Intesa Sanpaolo chief executive Carlo Messina
Will Intesa Sanpaolo’s attempt to merge with UBI Banca hasten a long-awaited wave of bank consolidation in Italy – perhaps even at the hands of UBI, if the Intesa takeover falls through?
UBI and its advisers, Credit Suisse and Goldman Sachs, are hoping that regulators and shareholders will think so, as the two banks await the outcome of a protracted inquiry by Italy’s anti-trust authority.
Intesa’s UBI merger, if it happens, would be Europe’s biggest bank takeover in a decade.
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